SHANGHAI, March 25, 2013 /PRNewswire/ -- Focus Media Holding Limited (the "Company" or "Focus Media") (Nasdaq: FMCN) announced today that it has called an extraordinary general meeting of shareholders (the "EGM"), to be held on April 29, 2013 at 10:00 a.m. (Hong Kong Time). The meeting will be held at 26th Floor, Gloucester Tower, The Landmark, 15 Queen's Road Central, Hong Kong, to consider and vote on, among other things, the proposal to authorize and approve the previously announced agreement and plan of merger (the "Merger Agreement") dated December 19, 2012 among Giovanna Parent Limited, Giovanna Acquisition Limited ("Merger Sub") and the Company, the plan of merger (the "Plan of Merger") and the transactions contemplated thereby (including the merger). Pursuant to the Merger Agreement, Merger Sub will merge with and into the Company, with the Company continuing as the surviving company. If completed, the merger will result in the Company becoming a privately-held company and its American depositary shares ("ADSs") will no longer be listed on the NASDAQ Global Market and the American depositary shares program for the ADSs will terminate. The Company's board of directors, acting upon the unanimous recommendation of the independent committee of the board of directors, authorized and approved the Merger Agreement, the Plan of Merger and the transactions contemplated thereby (including the merger) and resolved to recommend that the Company's shareholders and ADS holders vote FOR, among other things, the proposal to authorize and approve the Merger Agreement, the Plan of Merger and the transactions contemplated thereby (including the merger). Shareholders of record as of the close of business in the Cayman Islands on April 17, 2013 will be entitled to vote at the EGM. The record date for ADS holders entitled to instruct Citibank, N.A., the ADS depositary, to vote the shares represented by the ADSs is the close of business in New York City on March 28, 2013. Additional information regarding the EGM and the Merger Agreement can be found in the transaction statement on Schedule 13E-3, and the proxy statement attached as Exhibit (a)-(1) thereto, filed with the Securities and Exchange Commission ("SEC"), which can be obtained from the SEC's website ( http://www.sec.gov). In addition, the Company's proxy materials (including the proxy statement) will be mailed to shareholders and ADS holders. Shareholders and ADS holders who need additional copies of the proxy materials and who have questions or need assistance in voting their shares or ADSs are encouraged to contact MacKenzie Partners by email at email@example.com or by phone at +1(800) 322-2885 (toll free) or at +1(212) 929-5500 (outside of the United States). INVESTORS AND SHAREHOLDERS ARE URGED TO READ CAREFULLY AND IN THEIR ENTIRETY THESE PROXY MATERIALS AND OTHER MATERIALS FILED WITH OR FURNISHED TO THE SEC, AS THEY CONTAIN IMPORTANT INFORMATION ABOUT THE COMPANY, THE MERGER AND RELATED MATTERS. This announcement is neither a solicitation of proxies, an offer to purchase nor a solicitation of an offer to sell any securities and it is not a substitute for the proxy statement and other materials that have been or will be filed with or furnished to the SEC.
Focus Media (Nasdaq:FMCN) hit a new 52-week high Friday as it is currently trading at $27.41, above its previous 52-week high of $27.32 with 749,097 shares traded as of 2:35 p.m. ET. Average volume has been 1.4 million shares over the past 30 days.
Focus Media (Nasdaq:FMCN) hit a new 52-week high Monday as it is currently trading at $26.91, above its previous 52-week high of $26.90 with 1.3 million shares traded as of 3:25 p.m. ET. Average volume has been 1.6 million shares over the past 30 days.